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FOX Business
Jan 21, 2013 4:00pm EST
deficits, but he signalled split decisions in an era of divided government. >> progress does not compel us to settle. centuries long debates about the role of government for all time, but it does require us to act in our time. [applause] >> for now decisions are upon us. and we cannot afford to wait. we cannot mistake absolutism for principle or substitute spectacle for politics or treat name calling as reasoned debate. [applause] >> we must act. we must act knowing that our work will be unperfect. we must act knowing that today's victories will be only partial. peter: top republicans issued bipartisan statements in the spirit of the day, but mitch mcconnell, the senate republican leader called federal spending and the debt the transcendent challenge of the great challenges of our day. david: was it president harrison who had a two hour speech at his inauguration that he caught pneumonia. this was one of the quickest speeches i have ever seen before. but bottom line here, the president, a lot of people say it sounded more like an acceptance speech at a convention than it did at an inaugura
FOX Business
Jan 16, 2013 1:00pm EST
, although for instance if you think 40% of gun sales are done through private transactions, if that deficit may be the sales to move to retailers or licensed its readers that already do these sort of things. lori: is it frontloaded though? everybody rushing to the stars s before the announcement today. charles: that has been the trend. as an investor you have to worry about maybe a year from now the stocks, a tough comparison because you can't have every single month a record, people doing background checks. one thing that was interesting in the earnings report i thought was remarkable for the first nine months of last year gone background checks were 32%. distribution of 60%. they are running way ahead of background checks and this kind of shows you absolut tremendous demand out there for this. tracy: is it global distribution or just gunmakers? if it is global because before the united states last few weeks. charles: i think this is mostly a domestic story, but by having said that you look at a stock today. the high is a 52-week high of 60, so the stock already took a pretty good hit on
CNBC
Jan 15, 2013 9:00am EST
, gives the government the ability to pay its existing bills. it doesn't create new deficits, it doesn't create new spending. so not raising the debt ceiling is sort of like a family which is trying to improve its credit rating saying, i know how we can save money, we won't pay our credit card bills. not the most effective way to improve your credit rating. >> the metaphors, jim, whether it's a family not paying the credit card bills, the president saying it's like dining and dashing at a restaurant, the only thing is we've got two weeks of respite and then we're off to the races again. >> after the civil war, there was tremendous partisanship in this country. a tumultuous time. the level of bipartisanship. there's such hatred that you can't get in a room. it never seems like obama gets in the room. biden got in the room beforehand. but look, everybody hates each other down there. it's exactly the opposite of what you would expect from a respected nation. it makes us look mickey mouse. i don't blame fitch. look, we have to pay bills, the constitution says it, but everybody doesn't seem
CNBC
Jan 21, 2013 4:00am EST
for india, given that the country is running something in the range of 4% gdp deficit. the financing of that deficit needs to be on on an orderly basis, whether it's through fdi. the indian authorities are in a point where they simply have no other choice but to become more amenable towards foreign investment. and here, india stands somewhat at a contrast to the rest of the em world, if you think of countries like india or brazil or turkey, how do manage that, how to do that on an orderly basis. in contrast to that, india has been too slow and now their back is against the wall to maintain stable macro environment, they need more flows and therefore, i think the market seems to be comfortable in thinking india has no choice but to remain open for business in a big way. >> you mentioned about two minutes ago rather more foreign investment becoming more amenable to this. i think those were your words. which would be the next sectors or the next stores which would have an interest in doing this? >> there's a host of things going on right now. the authorities have a series of reform sect
CNBC
Jan 15, 2013 6:00am EST
'd never use the debt ceiling to negotiate. there's been three or four deficit deals reached during debt ceiling negotiations. that's what they've been used for in the past. in fact, you voted no on raising the debt ceiling in 2006, and some other things. and then to see him actually, he looked shocked that his loyal cadre of acolytes that someone would actually broach the subject that, you know, that he actually had a tough time answering. >> i think it shows the position he's in, though. he gets attacked from the right and the left. >> he doesn't get attack. the questions i want asked are never asked of him anywhere. >> he should come on "squawk." >> that's not going to happen. >> i'll get out. is that possible? >> no. >> i had a story but we'll talk about that one later. >> what's your story? >> we'll do it later in the broadcast. >> about nerds? >> what else would it be about? you want me to talk to here? i'm going to talk to here. coming up this morning's top stories, plus we're going to hop behind the wheel with nissan ceo carlos ghosn at the detroit auto show. first check this out
FOX Business
Jan 18, 2013 3:00pm EST
. now, we had a start with the deficit reduction efforts. >> right. >> prior to that i thought the bowles simpson commission was a powerful response to what we could do about our own deficit. >> why do you think the president ignored that? i mean his own commission, he ignored it. why do you think he did that? >> i can't speak for the president charlie. >> why do you think it got no traction then? >> this is politics. this requires two parties -- you had the republican party had to concede something on the take side. the democrats had to concede something on the spending side. the way i saw it with the spending cuts that were in process already and with the growth in the economy, we needed 2 of the 4. it was pretty straightforward. tax increasing and spending. business people would get this deal done in an afternoon. this is what we do. >> maybe that's why ruth should go to washington. >> do you think bowles simpson is dead? will it ever come back? >> it's provided the energy of a we need bipartisan and both ingredients to make it work and we need sense of urgency because it's
CNBC
Jan 16, 2013 6:00am EST
in an administration, did any of the deficit deals that we did, were those occurring at the same time as debt ceiling raises? >> they all do. >> we've heard that that -- i'm not going to accept that, not going to do it, not the way it's done. we're not a banana republic. how many can you recall, deficit deals were affected? it's something that's done, is it not? >> standard operating procedure. we all learned about the power of the purse of democracy. back then, it used to be taxes because they couldn't borrow. now, you can borrow. taxes aren't the only strains what government can spend. the parliament and congress has to be able to control the borrowing level. that's government 101. >> is zit in g-- dis in geingeny we've already been to the restaurant and trying to stiff the bill? it wasn't the $800 stimulus or any of the things the president's done, it's congress? >> first, you're raising debt limits to cover future spending. fact one is the money hasn't been spent yet. that's not true. >> it's sort of disassembling. >> that's a good word for it. the second fact is congress hasn't approved the mone
CNBC
Jan 22, 2013 7:00pm EST
growing at 2% for years. we have deficit problems and not a single word of unity. what do you make of that? >> he didn't try to bring congress together. i'm not talking about the house. i'm talking about the house and the senate. they have to work together and the president has to be the leader to make that happen. he didn't demonstrate that. i'm troubled by how his address sounded. it didn't reflect the reality of today. the problems that he should be leading us to solve by calling for for entitlement rather than entitlement reform. and worse tax position. art laffer many thanks. now it is president obama's speech designed to break ronald reagan's hold on america. along the way. is he trying to split, fracture and bust up the republican party so his democrats can recapture the house. we are going to look at that next up on kudlow. ♪ if loving you is wrong ♪ i don't wanna be right [ record scratch ] what?! it's not bad for you. it just tastes that way. [ female announcer ] honey nut cheerios cereal -- heart-healthy, whole grain oats. you can't go wrong loving it. heart-healthy, whole g
CNBC
Jan 15, 2013 4:00pm EST
solving the real problem, our massive deficit and debt. he's got some ideas coming up in an interview you'll see right here only on the "closing bell." stay with us. if you think running a restaurant is hard, try running four. fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. you won't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a real person. [ rodger ] at scottrade, seven dollar trades are just the start. our support teams are nearby, ready to help. it's no wonder so many investors are saying... [ all ] i'm with scottrade. >>> welcome back. the 401(k) is everywhere, and you might think everybody is saving for retirement through it. many people are not doing that at all. a new study shows one in four
FOX Business
Jan 18, 2013 4:00pm EST
to a republican president that then put everything on the credit cards, that blew up the debt and the deficit. and then we ended up with a near depression, a recession, and so clearly of course some spending was going to go up, but actually it's gone up slower in the obama administration than it did in either bush or the reagan administration. david: hold on a second congresswoman. i have to argue with that point. because we just put up the numbers. as i said the last three years of bush it went from 9 trillion to 10 trillion. the first three years of president obama it went from 10 trillion to 16 trillion. that's a huge increase. >> well, but this is not because of spending -- this is because the government has been spending to -- more people are on programs because of the unemployment etc., and so we have had a problem. i was on the simpson bowles commission. i actually introduced my own plan that did more deficit reduction, including, for example, creating a public option in healthcare that would save 104 billion dollars over ten years. so there are ways that we can do it, but to say that
FOX Business
Jan 21, 2013 8:00pm EST
walker, unmentionable. >> he did say deficit, he didn't think that overspending. he talked about the need for tax reform and allocating government programs and health care costs. this was a left of center speech. he was talking to his base. the issues that he wants to focus on, i think we have to see what he will say about the state of the union. that is the substance about governing. his budget will come in march. people are talking about that. to me that is a very critical appointment. neil: looking at all of these issues might be critical to you, but they did not appear to be front and center to this president. they might pop up to be more important than they let on. that is in this address where you we start painting with brush broad strokes? >> the key is, as i said, this is about vision, this is about touching on issues that his base cares about. i'm really interested to see what is the state of the unit, what is his budget, and what does he do about it. neil: so many in the democratic party are saying things like this. you have heard that we want to follow up on more tax increases
FOX News
Jan 15, 2013 3:00pm PST
term deficit reduction plan." you will recall that standard & poor's did downgrade the u.s. debt last august after the debt ceiling was raised amidst 11th hour suspense. it was blamed on bringmanship to use the debt creeling to get spending cuts. s&p did cite the melodrama as part of the reason but placed emphasis on the view that the debt ceiling deal fall short in what our view would be necessary to stabilize the government median term debt dynamics. translation, the debt ceiling deal didn't do enough about the debt itself. so keep this in mind when you hear it said,be with great certainty it's the republicans trying to force spending cuts over endangering the nation credit rating. as will rogers quoted once, "it isn'tbe what we don't know that gives us trouble. it's what we know that ain't so." bret? >> bret: the president has effectively turned the messaging around. by saying it's about paying the bills that congress has already passed. the laws that it's already passed. republicans are saying it's about borrowing authority. essentially running up the country's credit card. >> exa
CNBC
Jan 22, 2013 6:00am EST
when you're running a merchandise trade deficits and current account deficits. these are the things that really matter. and they're just kind of big macros. so they divide them down to a single session or a quick abrupt move. but they're the real flows in the global economy that are going to matter going forward. >> yeah, all right. i'm staying long. i'm staying long, kevin. >> well, we think last year we gave it a bite on the cheek. but that's going to be a lot harder this year, joe. and one of the things you're pointing out are extremely high gdp. and so the big thing this year is to make the switch. the customers are now the employees. the employees are the future customers. so you've got to keep the growth and accelerate the growth in employment over the 1.25/1.50 that we're doing if we're going to keep the equity market going in the direction that it has been for the past two years. >> all right, kevin ferry. thank you. >> is that a phone ringing down there, kevin? >> yeah. someone is trying to get to their broker. >> it would ring and ring and ring. >> that must drive you craz
FOX Business
Jan 15, 2013 11:00am EST
is willing to talk about deficit reduction, perhaps modest reduction to healthcare spending. as long as it comes with curbing loopholes and tax reductions for wealthier individuals. congress should just do it. back to you. connell: let's bring in dylan glenn. former advisor to george w bush. rich said that republicans have reasons for not having this meeting today. the president is standing back and think i am not negotiating on this and the republicans are all over the map. >> i do not think that this is a big deal. i do not see that as a big issue. what is coming out of this weekend retreat is far more important. connell: i would like to be a fly on the wall for that. >> also what is important is to remember how we got here. he has run trillion dollar deficits for the past four years of his administration. you have to pass a budget in the united states senate. he will be doing his sort of constitution getting a budget up to the congress. this is a challenge. we have to have a clear look at how we can reduce spending in this country. connell: whenever the limit is actually reached a
FOX Business
Jan 15, 2013 1:00pm EST
at the part that says credible meaningful deficit reduction has to be part of this in order to keep the aaa credit score. house majority leader eric cantor responded to that with a statement saying, it's time for president obama to stop putting our credit rating at risk and acknowledge we need a credible deficit reduction plan attached to any increase in the debt limit. from the white house we heard from president obama yesterday at a news conference. he says that he is not discussing any negotiations in the debt ceiling. that if congress's responsibility to essentially allow him to pay for the bills that congress has already rang up. and from here he says he will discuss deficit reduction, perhaps, modest changes to health care spending, so long as it is included with cushing or cutting loopholes in the tax system but that is something he says is an entirely separate debate. here we are having debate where one of the sides wants a debate and the other is trying to figure out their opening offer. that happens over the next few days. back to you. lori: the tick-tock, rich, grinding along on
CNBC
Jan 17, 2013 4:00pm EST
and deal with the debt issue and begin to deal with our fiscal deficits. >> right. >> i think, maria, you could see a real positive lift because people are ready to invest. they need to feel some kind of inspiration, and i think they are ready to invest. >> that's what we're hearing across the board. real quick, you going to raise your dividend this spring? >> well, as you know, we have to go through the process, and we have to wait to see what the fed says, but i'm optimistic. i can't speak for the fed but i'm personally optimistic. >> we'll leave it there. mr. king, good to have you on the program. >> have a good day. >> and to you. chairman and ceo of bb&t. didn't hold on to the triple-digit gains. does that mean we're setting up for a pullback tomorrow? our panel of wall street pros will give you a leg up on what's going to move your money tomorrow. don't miss it. ♪ ♪ [ male announcer ] you don't have to be a golf pro to walk like one. ♪ when you walk 10,000 steps a day, it's the same as walking a professional golf course. humana. health and well-being partner of the pga tour. [
CNBC
Jan 18, 2013 7:00pm EST
a deficit. they have no idea that we've got tons of revenue but that spending is at a ridiculous level now. 25% of gdp. it needs to get down to 17% of gdp. nobody has explained this to the public properly or convincingly. >> aunder your favorite presidet the debt has gone from roughly 10 trillion to 16 trillion. we just had the treasury numbers out yesterday. in fact, in the last year it went up again 1.3 trillion. now, this leaves an opening for the republicans. but i don't think they're smart enough to take it. and i agree with costa. actually, the president, who is a very clever political guy, they're letting him get off because he doesn't want to cut 13e7bding. mark is right. except smash the defense department. the rest of it, the entitlements, the discretionary, the little entitlements, he doesn't want to touch them. >> i don't know. was there a question in there? >> i think somewhere. somewhere there's a question. >> i don't know what to say. i guess spending is not what the democrats run on. i see this repeatedly. this is the republican party platform. when the democrats propose sp
CNBC
Jan 22, 2013 4:00pm EST
in deficit reduction, and then in the second decade $1 trillion, so it comes. >> hold on, hold on. the deficit reduction comes because they raise taxes and they cut medicare. had nothing to do with medicaid, right, and the states themselves have to deal -- i mean, we all talk about what it meant for the individual but there was another part, medicare that got stuffed down the throats of the states and they have to take -- they have to spend this money at the -- >> they don't have to do it, right. the supreme court ruled they could opt out which is what governor perry is doing and bobby jindal is doing in louisiana and what's happening in south carolina, and those are governors. if you're a governor and you're looking at this, it makes perfect sense for you to take this because it does draw in, again in, jan brewer's case, ten times the amount of federal funds, so if governors are choosing to not do this, then it is a partisan game because it makes no economic sense. for them their self-interest is to do this. >> but for a program that -- that the president has admitted, everyone i
FOX Business
Jan 22, 2013 4:00pm EST
, there was no indication, i saw no incation, one reference to the deficit, a throwaway line said we have a big deficit. we have to do something bit, with you we still have to continue with all the spending. i didn't see anything about cutting back on spending. did you? >> no, david. in fact that was more a defense of government in the president's speech, overarching theme of his governing philosophy and one has not been about cutting any type of enlightment spending when it comes to medicare, medicaid and social security and cutting benefits those receive. lauren: i am president, hear me roar. rich edson, working in washington, d.c. you have to invest in tylenol right? an advil. you're coughing this stuff every day. david: no, these guys love it. you don't understand these guys are nerds. they watch this stuff. they open a beer and sit in front of the tv and love this stuff like it was a football game, right, rich? >> yeah. it is a city. there is something wrong with all of us here. david: i still love washington. we love you. thank you, rich. >> thanks, guys. lauren: if you ever sent out a beat you're ab
CNBC
Jan 22, 2013 9:00am EST
? but the deficit has to be dealt with. and it needs to be dealt with in a matter of months. >> i guess the question, jim, here, is are they sort of sandbagging or preparing us for the worst? they did have to slash 2012 in october, so maybe they're preempting -- >> you come on tv, you've got to be statesman-like. you can't come in here and say, look, i think it's going to be good. she's just saying -- she's writing off europe. i think europe is stabilizing. they get a turn in asia. tio-2 was a disappointment. i think it's troughing. latin america really strong. ag really strong. i think it's actually gotten its groove back. >> in terms of the chemicals, performance chemicals were down by 15%, sales, electronics, communications also down. ag you mentioned, bright spot, up 18%. they've been talking for a long time about strong demand in latin america for seeds, which have been an add to the other agricultural names, like monsanto. >> finally you can see it. one of the things of the great ceo of ppg, he's been saying, some of the companies -- some of the chemical companies have stuck by commodity. i th
FOX Business
Jan 15, 2013 7:00pm EST
was the economy. 21%. 20% said the deficit. 20%. 18% said dissatisfaction with the government overall. that number seemed low to me by the way. 16% said the greatest problem is unemployment that number colates closely to those unemployed, including those who have given up looking for work. 5% said just the lack of money is the number one problem. as they see it by the way, 4%, 4%, said gun control. this is where you are mr. president. this is where you are. and it appears president obama is being reckless with at 4r50e69 two oat leastthose issue remain out of work. two press briefings on gun control, well, let's see what happens. >> the gun control debate, the empireious president set to rule. >> liberal mainstream media outraged about a new nra shooting app, we'll show you the game they should really be worried about. we wonder why are they ignoring it? is the obama administration now secretly planning amnesty for 11 million illegal immigrants in the country. will republicans go along with the plan? immigration attorney, cardenas will join us next. i would ever quit.hink [ male announcer ] along
NBC
Jan 20, 2013 4:00pm PST
, on the books. sos that over $2 trillion in deficit reduction in two years. it doesn't get us all of the way there but largely, two thirds of the way there at least within a ten-year budget window. >> russ, what do you think? of course we are approaching this with caution. we know that there's going to be more back and forth. but in the middle of it all, we've got earnings season. and you know, already some people are saying that this anticipation of all of these cliffs, cliff after cliff, has already impacted the earnings period. what are you looking at, what are you seeing from the fourth quarter reporting season so far? it's been a big week obviously this week for financials. >> we're seeing decent performance. again, i think compliments to corporate america because they been able to grind out strong earnings growth with a relatively weak recovery. and margins remain much higher than people thought and this has helped. we are sing recovery in the rest of the world, and that has helped. it's going to be a decent year. i don't think the problem is the trajectory of the economy. i think the
PBS
Jan 18, 2013 4:30pm PST
challenges and budget deficits and we need to expand our tax base and we need to take advantage of what's happening right now. >> reporter: exactly how we take advantage is ripe for debate. but, most agree better education and visas for the scientists we train in the u.s. is a good start. and, remember what i.b.m.'s myerson said about continuity: it's just as important to a country, as it is to a company. >> the moment you believe there is no nger of losing your edge is when it disappears on you. >> reporter: suzanne pratt, "n.b.r.," at the watson research center. >> susie: be sure to join us on monday for our special edition on american innovation. that's it for us this friday evening. have a great weekend everyone. you, too, tom. >> tom: goodnight, susie. we'll see you online at nbr.com and back here monday night. captioning sponsored by wpbt captioned by media access group at wgbh access.wgbh.org
CNBC
Jan 15, 2013 4:00am EST
its existing bills. it doesn't create new deficits, it doesn't create new spending. so not raising the debt ceiling is sort of like a family trying to improve its credit rating saying, i know how we can save money, we won't pay our credit card bills. not the most effect of way to improve your credit rating. >> ben bernanke says the u.s. economy appears to be willing to raise the debt ceiling. it's downplaying fierce that this could lead to higher inflation. >>. >> what do you think? >> well, i think, you know, what we've seen in the beginning of the year, like the solution of the fiscal cliff for the fist time in the more global renegotiation, what bernanke know and the government is they don't want the economy to be in another recession. probably it's going to be a slow process, but the final aim is there and everybody knows where we need to go. >> all right. let's remind you what's on today's show. we take a look out at the auto show. 5:30 eastern. spain is set to tap the bond market today. it's going to tell 12 and 18-month t bills. analysis is due in about 30 minutes' time. >>>
FOX Business
Jan 18, 2013 9:20am EST
of pressure on the task force doing something and tax reform entitlement reform and cutting the deficit and debt. charles: when it hit an all-time high the dow at an all-time high under george bush the democrats said that was a reflection of rich americans. stuart: professional sports very big money. we have two names for you. lance armstrong of course and manti te'o. they could lose a ton of money. brian is on the radio right now but he will join us for special simulcast at 10:35 this morning. let's get to gun-control. here is what the president of the national rifle association said yesterday on "varney and company" in response to president obama's proposal. >> you have a president who is dedicated to achieving an ideological agenda and is willing to spend political capital to fight a fight against -- against public feeling and public attitudes that have been in place for many many years and to fight in spite of constitutional safeguards for those attitudes you have a real battle royal and that is what we're going to have in washington over the next few months because this president a
FOX Business
Jan 22, 2013 1:00pm EST
out of our current deficit and debt. i was encouraged to hear that senator schumer and our colleagues in the senate are going to do something they are very unfamiliar with, which is actually to pass a budget. i will believe it when i see it. he says they're going to do it. that is important because when you have to put pen to paper and list your priorities it makes it easier to have the debate. when you're debating against a phrase like balanced approach, that's a challenge. but when you're debating against specific numbers, it gets a little easier. tracy: representative schakowsky, let's talk about this budget. the house of course calling no budget, no pay. look, you want to talk about the center and the american people. we have all had to create budgets over the last couple of years and had no choice but to live by them. we don't have printing presses at home. this notion that we don't have a budget right now, a little disheartening. you think we'll get one out of all this. >> the house passed a budget, the ryan budget that would decimate many things that the middle class actually d
FOX Business
Jan 21, 2013 3:00pm EST
deficits, but acknowledging the realities of divided government, said, quote, today's victories will only be partial. cheryl? cheryl: peter barnes of course standing by at the white house, big day in d.c., cold day as well. peter thank you. well, while most of the markets are closed today, money is still moving. now is your chance to make money on currencies. joining me now for a fox business exclusive interview is forex.com senior currency strategist. welcome. currency markets are moving today. currency is a bit of great interest with regards to the european currencies and there's japan. big meeting today, bank of japan, more concern about deflation in that country, what is your reading right now on the country of japan and the yen in particular? >> they have been taking some pretty extraordinary measures over the past to months or so -- past two months or so. been very very aggressive in terms of easing the japanese yen. he believes that's going to be the major thing to turn around the japanese economy. cheryl: i mean it's almost a currency war, if you will. i mean they are getting into
CNBC
Jan 17, 2013 1:00pm EST
. it's not like they were saying let them eat cake. there are big daunting deficits in both of these entitlement projects. 701 the new 65, we're all living longer. even randall stephenson going as far as saying you know at at&t we're actually going to need people to work longer because we're not going to have many people coming up to fill in the ranks. >> my view is on the one hand it's easy for ceos to say go ahead and work until 70. they're not, working in a coal mine. on the other hand, when social security began at 1935, full benefits kicked in at 65. we're paying more benefits to more people longer today. >>> boeing, 787 is grounded worldwide. battery issue being investigated. is the faa culpable in this, bertha, or not? >> i'm not sure it's the faa. i'm wondering in terms of the testing of the batteries. that appears to be the major issue that we are seeing and could you really test them? is there a problem with the lithium batteries when you've been flying plaens? >> robby, you're a brand expert here. what would you be telling boeing to do today? and do you think the
CNN
Jan 15, 2013 11:00am PST
deficit reduction plan. understand that fitch is not just looking for an 11th hour debt ceiling deal that sets the table for another mini crisis down the road. the federal government hit the debt limit as you know on december 31st. the treasury is using so-called extraordinary measures to pay its bills through mid-february or early march. now, fitch predicts washington will extend the debt ceiling despite the current war of words between president obama and republicans in congress. what happens if we get downgraded? it happened before. remember 2011, when standard & poor's did it. that hit markets and the wider economy hard, but it didn't cause interest rates to increase. this time could be different, however, because the rest of the world is getting its act together. even successful businesses like ford are worried. here's what ceo alan mulally told me today. >> i think the most important thing to your point is that we come together around a solution that allows us to live within our means, to reduce our budget deficits, and also to deal with our trade deficits, and create an enviro
CNBC
Jan 15, 2013 3:00pm EST
. >> and the always colorful senator alan simpson is with us, no bigger advocate of getting america's debt and deficit under control, but does he think the debt ceiling is the leverage that republicans should use to get that done? he'll join us exclusively, and i know you're going to ask him about that. >> absolutely. >> let's check out the action on the street right here. here's how things are shaping up with less than an hour to go. the dow jones industrial average hitting basically at the highs of the day. had been down around 60 points earlier. talking about a gain of 20 points on the blue chip average. fractional move at 13,527. nasdaq chart pattern looks similar. take a look though it's negative. down about nine points on the nasdaq, a quarter points lower and the s&p 500 looks like this. similar chart pattern as the dow up a fraction on the standard & poor's but still that's the high of the afternoon. let's get more on the markets in today's "closing bell" exchange by hank smith and steve from comcast funds and our own rick santelli. >> hello. >> good to see you guys. >> thank you so much for j
CNBC
Jan 18, 2013 12:00pm EST
like sequestration. i like the enforced budget cuts because that really helps the deficit. so i'm in favor of that. >> it's another reason the vix is down this much today, judge. you look at the market the market is pretty flat today. but the vix is just getting cranked. >> on your point, sorry to interrupt, i want to let everybody know the vix is now, reading a note from our news desk the vix is below 13 for the first time since june of 2007. and lot of that would mean that the risk premiums of course have shrunk and that would be because people are looking out saying rather than at the end of january beginning of february they've got to really ramp up the rhetoric and we get right back to the fisticuffs we saw in december we're not perhaps going to get that now because of this what john harwood just reported. >> another down day for apple and off more than 4% this week is a bottom near or will demand worries keep weighing on shares? pete, i'll go to you on this one. >> stay away from apple. i don't understand what the fascination. everybody has had this fascination that they w
FOX News
Jan 22, 2013 4:00pm PST
the president called for action on everything from deficit reduction to immigration reform and combating climate change. ed henry live at the white house. so what's the administration saying now about all of this? >> well, shep, as you noted. climate change was something that the president was particularly aggressive about and saying he will do something in his second term in office. the problem is he tried earlier in the first term and he got a bill through the house, but it died in the senate. and so there is some question about whether he can really move forward on this and today when we pressed jay carney about it, he didn't really have a lot of details. take a listen. >> i'm not going to, i appreciate the interest in this issue. one that the president shares, but, you know, i'm not going to preview or speculate about actions. beyond what i have said already. >> carney did note in the first term the president raised fuel efficiency standards for vehicles. he says that will have a major impact on climate change in terms of saving and not using as many fossil fuels. he says the president plans
CSPAN
Jan 15, 2013 8:00pm EST
this. yes, it may run up the immediate deficit, but once again, for every dollar that we invest in those levees we not only save lives and property, but we put people to work and we get the economic engine going. further up in my district, again, along the sacramento and the rivers, i have a project that's 44 miles of levee that clearly will fail. it has failed four times in the last 60 years. lives have been lost. one of the most catastrophic failures of a levee happened in this stretch of river. we need to rebuild that. the federal government's role in these construction projects of these levees has gone back to the very beginning of this nation and it is congress' task to allocate the money to decide the projects that are going to be built. but unfortunately we tied ourselves in knots here with certain rules that have been put in by our republican colleagues that prevent us from taking the necessary action to protect our communities. we're not talking about, you know, willy nily unnecessary projects. we're talking about saving -- nilly unnecessary projects. we're talking abou
CNBC
Jan 18, 2013 4:00am EST
form deliberate of an overhang lie the u.s. there is an issue with respect to fiscal deficit. where we saw the debt ceiling. so if that were to get into any kind of a logjam, not getting results, there can be some amount of sentiment that can impact us. and impact the customers and, therefore, to us. similarly in india, you look, the budget is going to come up in february. worry seeing further moderation in interest rates. but we still do not know, because quarter four tends to be a very good quarter. we have concern because we have very good revenue comes from india gee of fee. but some of those moves that will happen by the government and therefore the decision for investment and therefore there is a little bit of uncertainty. that is a big reason why we have given a guidance of .5% to 3% in large range. >> suresh -- >> based on the deal plan that we have, we feel that -- what? >> so just to be clear, you're basically saying just so people know what we're talking about, the guide kwans for the current quarter was between 1.2% and 3.5%. you came in at 2.4% revenue growth. your guidanc
CNBC
Jan 22, 2013 4:00am EST
toes cut the u.s. deficit, but without shredding programs like social security and medicare. you called for after overall of government. >> fort week, we understand the people we believe america's prosperity must rest upon the broad shoulders of a riegz middle class. >> mary jo jacoby was former special assistant to reagan. she joins us now. mary jo, good morning. i'm getting you had a few problems with what we heard from the president yesterday. >> well, kelly, it wasn't exactly the inaugural address that i would have written, but, you know, the president delivered it well. the crowd reacted enthusiastically, and now it's time for the nation to get to work. >> what about, mary jo, this sense of coming together, which is the great hope that obama would unite the country? i think people have gotten cynical about those prospects. is that right? >> i think the tone has certainly changed over the last four years and also if inaugural address yesterday, it was not exactly a hands across america speech. >> a lot of people were criticizing the speech for being general. inaugural addresses don'
FOX Business
Jan 18, 2013 11:00am EST
and republicans. out of that, hopefully, some progress being made to get this deficit and debt under control. we believe our obligation is to help prevent a debt crisis from hitting this country. republicans have had a tough spot here. the president of united states as he is not negotiating the debt ceiling. he says it is simply up to congress. it is due to spending that is already approved. the majority of republicans voted against the deal because there were no spending cuts. this was the first strategy session. we are going to have these fights throughout the spring. back to you. cheryl: we just had a guest trying to tell us to avoid the noise in washington. thank you very much, rich. dennis: let's take a look at apple shares right now. down five dollars. 1%. another tip today. an analyst says do not hang up on the iphone maker. that cancellation of orders for iphone parts, it is not tied to sell drop in demand for iphone5. apple is moving toward so-called -- screens from different suppliers. analyst who are usually critical of apple came out and said, look, this recent sellout, way overdone.
FOX Business
Jan 18, 2013 1:00pm EST
remains committed to further reducing the deficit in a balanced way. so that is the response from the white house after the gop at its retreat in virginia came out with the possibility that perhaps we could extend the debt limit for another three months but the senate has to pass a budget, so the republicans which it has not done in four years. so. tracy: no surprise from the white us house. ashley: says no. tracy: okay, then. how about this. hank paulson says he hates the debt limit. you remember the former treasury secretary, the guy who said i need $700 billion right now? no wonder he hates it. ashley: don't we all. tracy: he has given a rare interview. we have details on that next. ashley: first a look at today's winners and losers. the dow just above the water mark. take a look. we'll be right back. ♪ chances are you've become, a better driver over the years. and one company thinks your auto insurance rates should get better too. presenting the aarp auto insurance program from the hartford. i'm a good driver. have been for years. it just makes sense that better, more experi
FOX Business
Jan 22, 2013 11:00am EST
: if you heard the president's speech yesterday, i didn't hear the word deficit hardly at all. i did not hear about the growth of the economy, just everybody makes sure they have to have a chicken in every pot. >> you can be guaranteed on the state of the union address in on the 12th of february he will talk about new investments, high-speed rail, that means spending and it is not going to happen, nowhere in the world that can get through the house. dennis: thank you for being with us today. cheryl: president obama tries to push through his agenda for the next four years, what can you do to make some money right now for the next four years. management and chief investment strategist joins me now. let's talk about where we have been the last four years. gained 65%. the s&p gained 75%. are you bullish about the next four years for the market? >> yes, i am fundamentally. basically the federal reserve has done a magical job at the appreciating the value of our currency, lowering interest rates to the point it is now pushing asset prices up because money earns nothing in a bank account or
CNBC
Jan 18, 2013 6:00am EST
. germany's problem is the reverse. it's been running a huge surplus which is the deficit of the other countries of europe that they cannot finance. >> correct. >> that is the essence of the european crisis. >> but in a global environment -- >> the whole question with respect to the u.s. is whether we can sustain our current account relationship with the rest of the world. and particularly with china. and that's a decision that the rest of the world will make. it's completely -- >> james, are we -- we added a new entitlement, obama care, which some, i don't know what that's going to cost. there's some groups, i guess they would call them, if they're too conservative, but trillions and trillions of dollars of additional entitlements that we've just layered over the entitlements we already have. are we at the right level now? is this the perfect level of promises we've made? or would you even go above where we are right now? >> well, i think the problem that we have is that our health care sector is bloated by this enormous private insurance system that we have. this sort of mixed bag of
CNBC
Jan 17, 2013 9:00am EST
mean they are very concerned about the debt to gdp and the budget deficit, which are running at roughly 101% and 8 to 10%. we kind of look like spain looks right now. if anything we might be worse. but what i think happens is the republicans have two shots. march 1st is the sequester where they can challenge or what we think will happen they will wait until the march 27th continuing resolution and they are going to press the president for spending reductions which is absolutely necessary if we want to maintain at least two of our three aaa credit ratings. >> andy, i just find it amazing we now have a culture where it doesn't matter what you said a couple of years ago, even when you're the head guy running the country. we all know, raid or heard and today was the notable quotable in the "journal" when the president was a senator was a different guy when it comes to his interpretation of voting or not voting for the debt ceiling. but i happened in my opinion agree with you on your interpretation of the republicans and the retreat. i think that principle might be a good thing. centerpiece
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